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Wednesday, December 25, 2013

Neri v. Retail Marine Corp. case brief

Neri v. Retail Marine Corp. case brief summary
285 N.E.2d 311 (1972)

CASE SYNOPSIS

Defendant retail dealer appealed a
judgment of Appellate Division of the Supreme Court in the Second
Judicial Department (New York), which affirmed a trial court judgment
awarding defendant a portion of his counterclaim in plaintiff buyer's
action to recover the deposit on a boat after plaintiff changed his
mind before taking delivery.

ARGUMENTDefendant alleged an incorrect
assessment of damages under N.Y. U.C.C. Law § 2-708.

DISCUSSION

The court
held that damages had not been properly determined, and that under §
2-708, the correct measure of damages was the loss of profits and
incidental damages.

Prior law had limited damages to the difference
between the contract price and the market price.

Under new provisions
of the law, if the measure of damages under the difference in price
was inadequate to put the seller in as good a position as performance
would have done, then the seller was entitled to its profit together
with any incidental damages.

The court affirmed the order as
modified.

CONCLUSIONThe court affirmed the lower court's
order as modified after reassessing the damages under the Uniform
Commercial Code and awarding lost profits plus incidental expenses
for repudiation of a contract.

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